IND Green 555 Days

TARGET CUSTOMERS

• Individual (singly or jointly)
• NRI (NRE & NRO)
• Firm (Proprietorship/Partnership), Company, Association, Society, Club in its name.
• HUF
• Religious, Charitable or Educational Institutions.
• Municipality or Panchayat, Government or Quasi Government Body
• Any other Entity not prohibited by RBI.

Maximum Amount: Less than Rs.3 Crore   

Super Senior Citizen: 0.75 % p.a (i.e 7.55%)*

Staff:  1.00% p.a. (i.e 7.80%)*

Staff Senior Citizen: 1.50% p.a. (i.e 8.30%)*

Staff Super Senior Citizen: 1.75 % p.a) (i.e 8.55%)*

Additional rate are not applicable for  NRE & NRO Customers

Interest, net of TDS shall be payable on monthly/quarterly intervals or on maturity through the linked account (SB/CA) of the customer.

In case where there are no operative accounts of the customer, maturity proceeds will be paid by DD or through NEFT/RTGS as per customer’s choice.

No interest will be paid on deposits which remains for a period of less than 7 days.

Mandatory for Personal Customers

ROLL OVER OPTION

If the scheme is continuing on the date of maturity: –

Deposits will automatically renew under the same scheme with same tenor at the prevailing rate of interest on maturity date.

If the scheme stands discontinued on the date of maturity: –

Matured deposits will automatically renew to exact one year at the prevailing rate on Maturity Date.

Such automatic renewal would continue, unless the Bank receives a demand for payment or instructions contrary from the customer on or before the date of maturity of original green deposit or automatically renewed green deposit.

The amount so renewed will be the net of TDS amount as applicable.

However, in the event of premature withdrawal/ premature renewal prior to maturity, the deposits will cease to be classified under green deposits.

Premature withdrawal would not have any bearing on the activities/ projects undertaken using the proceeds of green deposits.

Customer may submit Form 15G / 15H as per rules for non-deduction of TDS

ANY OTHER INFORMATION RELEVANT TO THE PRODUCT

•  Bank holds the right to extend/ withdraw the facility in full or in part at its discretion at any time in future.
• The account should be fully KYC compliant. Valid PAN/Form-60 should be obtained wherever applicable.
• Deposits related to RD, Tax Savings, MACAD, MODs, Capital Gains Scheme are excluded under this scheme.
• Term Deposits will be allowed to be transferred from one branch to another branch at the request of the customer.
• All other terms and conditions in respect of normal domestic term deposit product will be applicable to these products also.